Applied Materials Inc. Q4 Profit Increases, Beats Estimates

(RTTNews) - Applied Materials Inc. (AMAT) released earnings for its fourth quarter that Increased from last year and beat the Street estimates.

The company's earnings totaled $1.89 billion, or $2.38 per share. This compares with $1.73 billion, or $2.09 per share, last year.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.73 billion or $2.17 per share for the period.

Analysts on average had expected the company to earn $2.1 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 3.4% to $6.80 billion from $7.04 billion last year.

Applied Materials Inc. earnings at a glance (GAAP) :

-Earnings: $1.89 Bln. vs. $1.73 Bln. last year. -EPS: $2.38 vs. $2.09 last year. -Revenue: $6.80 Bln vs. $7.04 Bln last year.

-Guidance: Next quarter EPS guidance: $2.18 +/- $0.20 Next quarter revenue guidance: $6,850 +/- $500 Mln